Meridian Wealth Advisors LLC Sells 752 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Meridian Wealth Advisors LLC cut its stake in Viper Energy, Inc. (NASDAQ:VNOM) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,260 shares of the oil and gas producer’s stock after selling 752 shares during the period. Meridian Wealth Advisors LLC’s holdings in Viper Energy were worth $209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Viper Energy by 233.0% during the 3rd quarter. Victory Capital Management Inc. now owns 95,892 shares of the oil and gas producer’s stock worth $4,326,000 after buying an additional 67,098 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Viper Energy during the 3rd quarter worth $2,473,000. Swiss National Bank raised its holdings in shares of Viper Energy by 24.3% during the 3rd quarter. Swiss National Bank now owns 197,977 shares of the oil and gas producer’s stock worth $8,931,000 after buying an additional 38,700 shares in the last quarter. King Luther Capital Management Corp acquired a new position in shares of Viper Energy during the 3rd quarter worth $231,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Viper Energy by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock worth $28,206,000 after buying an additional 66,222 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Stock Down 2.5 %

NASDAQ VNOM opened at $44.23 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The stock has a market capitalization of $9.42 billion, a PE ratio of 18.98 and a beta of 1.69. Viper Energy, Inc. has a 1 year low of $35.46 and a 1 year high of $56.76. The business’s 50-day moving average is $47.13 and its 200 day moving average is $49.07.

Viper Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $0.65 per share. This is a boost from Viper Energy’s previous dividend of $0.22. The ex-dividend date of this dividend was Thursday, March 6th. Viper Energy’s payout ratio is presently 32.70%.

Wall Street Analyst Weigh In

VNOM has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Viper Energy from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Truist Financial reduced their price target on Viper Energy from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group set a $72.00 target price on Viper Energy in a research report on Monday, March 3rd. Wells Fargo & Company initiated coverage on Viper Energy in a research report on Friday, March 14th. They set an “overweight” rating and a $51.00 target price on the stock. Finally, Raymond James restated an “outperform” rating and set a $58.00 target price (down previously from $64.00) on shares of Viper Energy in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Viper Energy Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.